TOP Polkadot / Kusama DEFI PROJECTS | BEST Polkadot ALTCOINS 2023 | crypto price prediction 2023

Last updated Feb 3, 2023

00:00 Introduction
02:16 Polkadot’s DeFi parachains
04:07 Acala & Karura
05:46 Parallel & Heiko Finance
07:13 Centrifuge & Altair
09:41 HydraDX & Basilisk
11:18 Composable finance
12:42 What’s Next?

It’s been just over a year since parachains first launched on Polkadot, and already the network represents the largest ecosystem of use-case specific blockchains in the world.

Since the first slot auctions took place in November 2021 and the first parachains began onboarding to the network the following month, 35 parachains have joined Polkadot, with an additional 42 parachains on, Kusama, for a total of 77 across the Polkadot ecosystem.

Over the past year, Polkadot’s first parachains have been busy rolling out and upgrading their technologies, demonstrating the power and flexibility that Polkadot provides with the parachain model.

Showing the potential of the Web3.0, Polkadot’s ecosystem of parachains is now filled with activity across DeFi, smart contracts, social media, decentralized identity, IoT, gaming, the metaverse, and sustainability.

In this Video, I want to provide a brief overview of Polkadot’s DeFi (Decentralized Finance) parachains after its first year since launch, all together there are 14 new parachains focusing on DeFi but in order not to make this video to long i decided to talk about my 4 personal favorites.

Polkadot’s DeFi parachains

The Web3 economy is evolving at a rapid pace, and DeFi represents a bright opportunity for the future of finance, improving the accessibility of services to more people than ever before.
But despite all the potential, the technologies on which DeFi is primarily built struggle to perform as well as they should.
Poor user experiences stem from slow speeds, high fees, complex processes, and limited functionality. A lack of interoperability leaves the market fragmented, with cross-network transactions being highly unintuitive and often insecure due to the limitations in early-generation bridging technologies.

Polkadot’s technology stack enables DeFi builders to address these limitations. Secure cross-chain communication, low, predictable fees, and fast, dependable processing open up new possibilities for DeFi and an effortless experience for end-users

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